Hilton Head Island Swim Team

Analysis

Hilton Head Island Swim Team is a registered charity in United States, based in Hilton Head, SC. It received its IRS tax-exemption ruling in October 1985, 41 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Hilton Head Island Swim Team reported income of $297k and spending of $327k, spending 110% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $253k to $297k (+17%), an average of +4.1% a year. The sharpest change came in the year to July 2021, when income rose by 44%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hilton Head Island Swim Team sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 66th percentile within SC. Charities of a similar size with the same main cause include Heartbeat Serving Wounded Warriors ($297k), West End Health Foundation ($297k) and Prouts Neck Association ($297k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 9.2% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $92k (28% of expenses). Other salaries and wages came to $53k. At year end it held assets of $256k against liabilities of $15k, net assets of $241k. It reported 3 employees.